Hi all,I was recently introduced to a real estate investment opportunity by an old friend (who claims to be a gap funder/broker).He introduced me to a partner of his who claimed he had access to portable mobile home units across the country and in which case I could invest in each rental property for an investment of $10-15k each and receive a residual passive income of approximately $2.5k/month.The deal would be a completely turn-key investment, as I would own the note on the mobile unit, and I would not have to do any maintenance, etc as a normal landlord would.Everything sounded great on paper, but here's where a got overly suspicious:1) The one-page, loosely written contract he provided did not disclose any address or rental property infornation, nor were there any lease/loan terms or agreements set forth.2) The urgency to close the deal.

I did it using a couple of different Repair estimators, complementing the comps with Zillow and RedFin, and I also added more repair costs for drive way,  in addition to incrementing the contingency because through Google maps I noticed the driveway was in very bad conditions and I also discovered that there is a in- ground pool in the back yard, not mentioned in the MLS, which is a bit suspicious. 

I'm sure you could work in an exit clause to the P&S but my understanding to why more wholesalers don't do this is that the seller of the property will question you and likely back out (or at least be suspicious).

Yes, you can spend money on extensive renovations if you don't want to realize that income, or some version of that, and it may be advantageous to some very wealthy people with multiple healthy income streams and properties, but you should be extremely suspicious of that.

However, a neighbor has been complaining the last 3 months that there are hoards of people coming and going from the property every day and that there are cars there at all hours of the day and night and that there must be some type of drug dealing or other suspicious activity going on.

Or will it look suspicious to the IRS?

The property has been on the market for over a year so I'm really suspicious. 

“Requiring access to this information could also help signal to a borrower if something is suspicious about their mortgage loan,” Sen.

Then the day or so before the closing their title company called me up (which I should have know was suspicious for them to call me because they do everything via email and portal submission) saying the email with the final documents is too big a file to send to you so just sign the signature pages I'm going to send to you and send them back to me via mail and it will be just as good because we sent you the same docs to review earlier.

That left me suspicious before I even called.